Before the Lunar New Year, which Mongolians celebrated February 22-24, Government announced it’s decision to reduce apartment loan to 0.6 percent per year. Commercial bank’s issuing apartment loan with 1.0-1.2 percent a month.

Citizens welcomed government’s decision but same time worrying apartment price may increase. Ts.Dashdorj, Minister of Transport and City planning said yesterday, February 29, 2012 government will do best apartment price not going up. “Government planning to built apartment in certain place which can sold by low percent of loan. Some places have to release from land owners, discussion under way. Also government going to sign agreement with construction companies. Those efforts can keep apartment price in suitable” said Ts.Dashdorj.

By the rule people who has medium and low income can apply for 0.6 percent apartment loan. One important point is people who never get apartment have to apply to this loan. Government officials calculated and family who has average Tg800.000 ($550-570) income can receive the loan.